₦airaland Forum

Abuja Nigeria.


https://www.youtube.com/watch?v=tpruHWbAJGE

vaxx:
But why ?

Other çountries in the world design their currency no Noise,No challenges,No social hindrance... Nigeria try to introduce new notes, yawa gas

You are the only one still clearly speaking out of point on this issue. Nigeria has been redesigning currency for a long time as well without issues so this is nothing new to Nigeria too. If you've been following these conversations, you should have noticed this particular one is not just about redesign but redesign was a bait to make people give up the old currency as much as possible in a strict deadline and then limit the amount of notes afterwards.

It seems coins have returned to the Nigerian market (in some Banks) although I'm yet to see any. This is a welcome development but still we need to tweak this policy a little to find succour for the poor.

vaxx:
and you didn't add onitcha .

I'll love to ask you this just out of curiosity if you can explain it to me:
Why are your countrymen on the Bank of Ghana's neck for printing supposed 80 Billion cedis for the Government?
Is it because it may affect the IMF program or because the money cannot be accounted for? Or is it because they just see it as a sin for the Government to borrow from BoG in times of crises?

This is just for me to gauge more closely how Africans are so similar in their response to certain economic policies even across different countries.

asobo1:
Come and join the winning team. You won't regret voting Atiku

Tell me why anyone should consider a man like Atiku.

Image123:
Omo, the kind of strings Atiku is pulling up north ehn, i worry for Nigeria oh.

Yeah, better for Tinubu to win than Atiku but people are blinded by emotions and ethnicity.

KingKO22:
He said Tinubu is a “famous and credible name” associated with big businesses on the global stage and as president, Nigerians are poised to see more foreign capital and investment pouring into the country like never before.

You have said it all.

There are more secret or reasons why Lagos keep monopolizing the entire Nigeria in terms of foreign investment

Asiwaju is synonymous to progressiveness

Even as a new Senator in 1992, there was a record of him bringing 20 million dollar investment from America to Nigeria.

Shaytun:
The dangote Refinery has been completed, it will be commissioned on the 24th of this month by buhari.

These are just social media reports, not verifiable yet. I don't think the Dangote refinery would kick off before June or even September 2023, but I hope this news is true.

Guyman01:
This solidify his statement that he will continue from where Buhari stopped. Tinubu is Buhari pro max

Any President elected would have to continue from where Buhari stopped.

Lagos doings.

Mkenya2019:
NNPC has never paid dividend in its 40yrs of existence..it always make losses...and even when they claimed to be profitability..they didn't pay.Safaricom ceo and chair are Kenya.. Vodafone own 40 percent..35 percent is Kenya gov...25 percent Kenya public

You just read something from Nigerian media and you don't understand. When they say NNPC doesn't make dividends, it's almost like saying the Nigerian Government doesnt show dividends to the public after paying herself and doing everything. NNPC has always been an instrument of the Nigerian Government right from the 1970's making all her money for corrupt Government, boosting reserves with billions of dollars yearly but either declaring losses or not even declaring profits or dividends to the public the way a normal company should.

It was ran like a big corrupt entity, just financing the Nigerian Government only (and making losses) until now, and even now, it is not yet fully commercialised and still corrupt. However, Buhari has signed a bill in 2021, that would eventually see it operate like a fully commercialised entity listed on the Nigerian stock exchange (June 2023).

Obaderemi2, Shaytun, 68816419, and anyone else:

These were Tinubu's thoughts and criticism on the Nigerian Economy 10 years ago ( March 8, 2013) in one of his birthday colloquium.

FORMER Lagos State Governor, Asiwaju Bola Ahmed Tinubu, yesterday, dissected Nigeria’s economy and declared that the country was operating a voodoo economic policy that is pauperising the citizenry and urged urgent economic surgery to save the polity.

For instance, Tinubu wondered why the Federal Government is maintaining a foreign reserve of $46 billion with one or two per cent interest and shouldering a load of $42 billion domestic debt, which it services with 16 per cent interest.
“This is voodoo economy,” he said, adding, “they are operating it because they don’t know what to do. It is choking the private sector.

“We must in this country do away with the idea of ‘it is better save the money and spend the people.’ Rather I will say we should adopt the policy of ‘it is better to save the people and spend the fund.’

”We must reform our philosophy about economic development. First, we must reform the financial sector so that it becomes an effective artery that sends funds to the heart of the real sector. The Federal Government must formulate a national industrial policy that would focus on developing labour-intensive industries.”

Your thoughts and honest criticisms/support?

https://www.vanguardngr.com/2013/03/nigeria-operating-voodoo-economy-tinubu/

Mkenya2019:
Why are you waiting for three days. .why are you waiting. In Kenya you only wait to negotiate the rate..like 2 minutes..if you can't take the rate. Kenyans don't know that forex bla bla shortages.They go bank...saying i want 10,000usd to import car from Japan.. bank okay rate is xyz..Happy or I can call bank treasury to get you better deal..call..customer ..bla bla..reduce by 0.001..okay.. you are out..5 minutes

He said if I wait for 3 days. Read well naw. Don't be in a hurry to type.

Mkenya2019:
As of 2021 - N3. 93 trillion - 4 trillion - with about 800B from Oil.So yes progress has been made. But 4 trillion is like 9 Billion dollars. While Kenya was doing 20B.

I am not sure of 2022 but 9 billion is about Ghana's 8.3 billion...or Uganda kind of revenues.

This is 2021. From probably thesame article you got your 3.93 trillion Naira from.

According to Buhari, total revenue available to fund the 2022 Federal Budget is estimated at N10.13 trillion, including grants and aid of N63.38 billion, as well as the revenues of 63 Government-Owned Enterprises (GOEs).

Nigerian sources of revenues are diverse and interesting although oil is the major focus and life pillar because of years of investments in the oil sector.
10.13 trillion Naira at 410 Naira to a dollar in 2021 is over 25 Billion dollars not 8 Billion or 9 Billion.

https://www.vanguardngr.com/2021/10/fg-generates-73-of-its-targeted-revenue-for-2021/

Mkenya2019:
It's 5.5 trillion with half of it projected borrowing and half projected revenue..which you'll be lucky to get 50 percent with oil prices dropping

Funding 2023 budget: The minister highlighted that while the total revenue available to fund the 2023 budget is estimated at N10.49 trillion, the government expects 22% of projected revenues from oil-related sources, while 78% is expected from non-oil sources.

This is a sharp contrast to the Buhari administration’s first budget presentation in 2016, where expected oil revenues were pegged at 70% and non-oil revenues were pegged at 30%.

For the record: The finance minister said that the oil and gas sector contribution as of the third quarter (Q3) of 2022 was 5.66%, which shows that it is the non-oil sector that is running the country’s economy. She highlighted the fact that sectors like ICT and Agriculture were doing better than mining as well as oil and gas sectors, so Nigeria’s economy is truly diversified and can no longer be referred to as a mono-economy.

Baller254:
kenya

The first picture looks more or less like a typical European environment.

Mkenya2019:
companies can be Hqed in lagos or Nairobi but that doesn't mean the real gdp is generated there....Real gdp is spread countrywide as companies have operation countrywide.Nigeria fake gdp explain why you have world worst revenue to gdp...high gdp..mean high gov revenues.Apart from VAT which lower than kenya all Nigeria tax rate are higher than kenya.Yet kenya collect more than Nigeria in income ,customs, name it.GDP is just random number. REVENUE IS REAL MONEY.Faking gdp hurt you..no one else ..its your own delusion

Also note that Nigerian Budget is mainly tied to oil revenue and this is what is majorly referred to when they say revenues to debt servicing as an example. With more attention currently being paid to non oil revenues year by year, the budget would no longer be tied to oil revenues.
For instance, due to low oil production in 2022, Nigerian revenue to debt servicing ranged between 80-110%, but there was constant FAAC allocation across all three tiers of Government consistently (some even above 2 Billion dollars monthly). This is different from Kenya where your budget is not benchmarked to any major natural resource, so Kenya doing Revenue to debt servicing of 35% may sometimes be worse than Nigeria doing 80%.

Mkenya2019:
companies can be Hqed in lagos or Nairobi but that doesn't mean the real gdp is generated there....Real gdp is spread countrywide as companies have operation countrywide.Nigeria fake gdp explain why you have world worst revenue to gdp...high gdp..mean high gov revenues.Apart from VAT which lower than kenya all Nigeria tax rate are higher than kenya.Yet kenya collect more than Nigeria in income ,customs, name it.GDP is just random number. REVENUE IS REAL MONEY.Faking gdp hurt you..no one else ..its your own delusion

Can you provide proof Kenya collects more tax than Nigeria in income, customs?? Where would the Kenyan tax be coming from, when even your biggest export is flower of 1.4 Billion dollars. Nigerian non oil federal taxes for 2022 is estimated to hit 10 trillion Naira (22 Billion dollars). Don't just pull things out from your ass.

Shaytun:
You must be thinking out of your ass again.

Foreign debt servicing is a measly 1.4 trillion. How and where did that exceed revenue? Or are you confusing Nigeria for Kenya.

Kenya is a failed state, Nigeria is a developing one. Our Revenue has been increasing on yoy basis, yours has been decreasing since 2018.

“For debt service, domestic debts (including Ways and Means) got N4.49 trillion; foreign debt was allocated N1.81 trillion; and sinking fund to retire maturing loans took N247.72 billion.“

Kenya has a huge debt servicing problem and must do something urgently before 2024 when some of these Eurobond debts mature.
Nigeria just bailed out Ajaokuta steel with 500 million dollars, something the Kenyans borrowed recently from IMF.

Shaytun:
Nigeria 2023 Federal budget of 50 billion Dollars the highest til date.

https://www.thisdaylive.com/index.php/2022/12/29/nassembly-passes-2023-budget-raises-proposed-spending-by-n1-32trn-to-n21-82trn/amp/

States also increased budgets across too. If we add all 36 states plus FCT, we are talking 60-70 Billion dollars or more. Lagos has a budget of 4 Billion dollars and about 3-4 other states I heard of had budgets over 1 Billion dollars this time. Some others around 250-500 million dollars.

Just30:
It's the closest you can come to the truth..
Ghana took prudent steps to nip the cedi depreciation in the bud and now inflation has dropped massively ....
The 3 main drivers of Ghana inflation have gone down

Those are the two things that drove Ghana into a crisis.

As for Kenya, it's like they don't understand what's happening to them, they keep digging deeper into it.
The list of bankrupt companies in Kenya keep increasing and the exodus keeps growing hence the huge 6 billion capital outflows.

Some say Ghana used her little reserves to shore up the cedis and this is why they had to announce a halt to their external debt servicing. However, I can’t find any official report to this claim, does this have some atom of truth?

Beautiful Nigeria.

https://youtube.com/shorts/lrxiqzBL4Hg?feature=share

Bonny Island Nigeria.


https://www.youtube.com/watch?v=6fq71yRMSiA

Bauchi State Nigeria.

The media won't show this part of Northern Nigeria 🇳🇬.

📍Bauchi State

Shot by me 📸 pic.twitter.com/AMq8k7P69u

— Niyi (@theniyifagbemi) July 23, 2022

Ondo State Nigeria.

Wow!!, This is one of the most peaceful places in Nigeria!

Idanre Hills, Ondo State! 🇳🇬🇳🇬🇳🇬 pic.twitter.com/qYUnbfACCJ

— Niyi (@theniyifagbemi) July 31, 2022

Beautiful Nigeria.

When they say Nigeria 🇳🇬 is ugly!,

show them this video 👇🏾👇🏾

Please RT 🙏🏽 pic.twitter.com/ivkDtJmTwH

— Niyi (@theniyifagbemi) December 17, 2022

Gossipninja:
Let's try him.

APC have done theirs. PDP too.

Let's try this Obi.

For the fact that he's a third force, will make him work for the masses and be accountable to us too

How is Obi a third force? Haven't we tried Obi before in Anambra? If you are truly looking for something new, there are lots of options. There are only two reasons I would vote Obi if I vote him.

1) He looks more likely (amongst the three candidates) to cut the cost of Governance, although we thought thesame initially about Buhari.

2) I would be happy to have an Igbo Presidency this time.

Obojuju:
Nigerians please lets try Obi for just 4 years and see..... lets do something different from what we have been doing before by voting Obi. For the sake of children...lets vote wisely this time around. Please Nigerians

This is the statement I don't understand. I have no problem with anyone choosing Obi but the question is: How is voting Obi doing something different?

GuyWise101:
Nna mehnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn

Thiefnibu couldn't explain how he got his wealth and he is also sounding incoherent

I think it has been said thaf he as an accountant have been investing in Stocks in Tech Companies since the 1980s and that he also has stocks in Manchester United.
But I believe like you, that even all of that may not explain all of his wealth.

kkins25:
Neither are they for Akufo-Addo. You see, when most states govenors are your party members, it is easier for you to implement your policies. Why hasn't Education changed on bit in naija, why? State government?? NOoooooooo..

Moreso, from my understanding, the bodies that manage the standard of education across all states are united aren't they? Isn't that why they call them "Ministry of Education?" Okay good. Who appoints the 'man' that oversees the activities associated with the ministry of Education? state governor? NOoooooo...

Not saying you don't have a point, you do. But when it comes to governance, akufo-addo and Buhari no be mates. Plus, education system is like absolutely free, plus feeding. My sibling attends a public school nd i can actually beat my bloody chest and tell you that the average public school in Ghana is on par with some high profile private schools in naija.

I've marked waec before bro, so i know what i'm saying.
Have you seen news where Ghanaian students score highest scores in waec? bro, does kids are mostly from public schools. It surprises me too.


I shouldn't have to tell you sha. Infact, a lot of Governors in Nigeria can't go beyond chieftaincy title in Ghana. Kikikikiki...

Lastly, before you think it's my Ghanaian bias, I stayed in naija for the 24 years.. i've only been in Ghana for 3. Capecoast uni the best uni in west africa?? ordinary capecoast uni? ohhhh,,, naija needs to have a nuclear weapon shot at it, then we start from scratch..

Have you been to community where a grinding machine operator who stays in the village, and watches TV while grinding maize in his shop? Even more shocked was i, when i went to que in line with a load of local fisher women for health care insurance.. Bro, Ghana is like miles ahead. Don't get me started self. Let me chip in that public schools teachers are better paid.
So where is all this money coming from? the small petroleum reserve discovered just some few years ago.. Ghana has its bad side too, one being the hookup culture of nurses

Hmm I would have replied everything you wrote, but I would not.

Analysis: Egypt not out of the woods after IMF rescue deal

https://www.reuters.com/markets/egypt-not-out-woods-after-imf-rescue-deal-2022-11-25/

Egypt has borrowed more than their economy can hold.